Alternative asset manager Investcorp has appointed David Bruce as a managing director and co-head of North America institutional sales for its hedge fund business.

In his new post, Bruce will report to Deepak Gurnani, Investcorp’s head of hedge funds and chief investment officer, and be responsible, together with co-head Lofton Holder, for marketing and client service across institutional channels.

Bruce joins Investcorp after 12 years with Barclays Global Investor where he was a managing director responsible for leading the business development and strategic account client relationship teams in the Americas institutional business group.

“We’re continuing to invest in high-caliber people such as David to build on our achievements of the past year,” said Gurnani. “We’ve had a highly successful 12 months in which we raised $1.1 billion in new hedge fund assets, much of it from U.S. institutions. David joining is a sign of our continued commitment towards servicing and advising North American institutions.”

Investcorp’s hedge fund business currently manages a range of customized hedge fund portfolios, funds of hedge funds and structured fund products on behalf of the firm’s institutional and private clients. As of June 30, total hedge fund assets under management stood at $4.7 billion.

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